AES Corp., Parent Of Indy Power & Light, Invests $1.2 Million To Locate Business Unit Headquarters In Indianapolis, Indiana

Area Development News Desk

06/17/2013

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AES Corporation, parent company of Indianapolis Power & Light Company, will invest approximately $1.2 million to locate its U.S. business unit headquarters in Indianapolis, Indiana, creating up to 100 high-wage jobs by the end of 2014.

The company, one of the world's largest independent power producers, will align its U.S. operations support in Indianapolis. The 21 AES businesses across the country will transition to operate as one strategic business unit, housed at IPL's existing headquarters at the Electric Building on Monument Circle.

"This decision demonstrates AES' commitment to Indiana," said Ken Zagzebski, the new president of AES' U.S. strategic business unit and chief executive officer of IPL. "AES decided to expand here primarily due to the excellent business and regulatory climate we have in the state."

"We are proud that a global company like AES has chosen Indiana as its hub for all U.S. operations," said Gov. Mike Pence. "Indiana's unmatched business climate, central location and strong workforce continue to set us apart and make our state the best place for companies to expand and more effectively run their business."

As an incentive, Indiana Economic Development Corporation offered AES Corporation up to $2,750,000 in conditional tax credits and up to $87,500 in training grants based on the company's job creation plans. These tax credits are performance-based, meaning until Hoosiers are hired, the company is not eligible to claim incentives. In addition, the city of Indianapolis supported the project at the request of Develop Indy, a business unit of the Indy Chamber.

"IPL has always been a valued partner in our community and we welcome its parent company's expanded presence in Indianapolis," said Indianapolis Mayor Greg Ballard. "Our community will benefit from AES' commitment to bring high-wage job opportunities to our skilled workforce."